Why do people buy gold on dhanteras? Is it considered auspicious?
In Indian tradition, buying gold on Dhanteras is a common ritual. Some people believe this will bring the blessings of goddess Lakshmi to their home.
Gold is an asset that protects you from inflation. There is an inverse relation between gold and the stock market. When the equity market fluctuates, investors prefer buying precious metals like gold to protect their portfolio.
As an investor, I usually buy gold in the form of bonds, ETFs or mutual funds and currently have around 20% gold in my total portfolio. But this is the day when I go with my family and buy physical gold.
Here are some of my personal beliefs to buy physical gold on Dhanteras:
- Its value steadily appreciates as it is an asset.
- It adds financial security for my family.
- Historically, whenever there is a financial crisis, the price of gold increases.
- You can pass physical gold to your next generation, which is also a common tradition in India.
Unlike currencies such as rupees or dollars, which mainly lose their value due to economic policies or geopolitical tensions, the gold price is steady.
Remember, due to festive demand, you may buy gold at a slightly higher price this time. But as we know, the gold price is much more stable and will also be in demand in the future.
The joy of choosing together creates beautiful festive memories. For me, buying gold on Dhanteras is a combination of culture and investment.